NOVEMBER 21, 2002

The following homeowners were represented in person or by proxy: Alexander, Becker, Call, Cooper (2), Cornett, Enders, Fisher, Gordian, Kron (3), Lack, Leaf (2), Martin, Miller, Shields, Thompson, and Zimmerman.

With 20 units (66.76%) of the ownership represented in person or by proxy, a quorum was established and the meeting was called to order by the President, Jeff Cooper at the hour of 7:10 p.m.

The minutes of the November 7, 2002 Board of Directors meeting were distributed and reviewed for informational purposes only.

The October receivable report was distributed and reviewed. It was noted that unit 407 had a substantial balance due on their account. The managing agent reported on the current status of the delinquency. Gloria Kron moved to place the funds from unit 407 into the reserve account when received. Jeff Cooper 2^nd the motion. The motion was approved.

The 2002 year-to-date financial reports and reserve analysis were distributed and reviewed. Gloria Kron moved to approve the financial reports and reserve analysis. Mike Zimmerman 2^nd the motion, The motion was approved.

The next item of business was the election of Directors. Ed Enders has thanked the Board members for serving on the Board and doing a great job. The floor was opened for nominations and the following homeowners were nominated to the Board:

                                                            Mary Ellen Gordian

                                                Mike Zimmerman

                                                            Joe Fisher

                                                            James Call

                                                            Gloria Kron

Being no further nominations from the floor, Ed Enders moved to approve the slate of nominees and to close the floor. Joe Fisher 2^nd the motion. The motion was approved. Homeowners nominated were elected to the Board by acclamation.

Mike Zimmerman reported on the current status of a leak in his unit. He stated that the contractor, who was contacted to resolve the issue was not able to investigate the leak yet.

The proposed painting contract was distributed and reviewed. The contract was approved as presented. The Board has selected the new paint color for the hallways. The managing agent was asked to contact Tuffy’s painting to provide them with the paint sample and to sign the contract.

The managing agent reported on the current status of the janitorial service. The managing agent was asked to contact the janitor to renegotiate the terms of the contract.

2003 operating budget was distributed and reviewed. Gloria Kron moved to approve the budget as presented. Ed Enders 2^nd the motion. The motion was approved.

Joe Fisher reported that residents of unit 404 have taped the lock on the security door in the lobby to disallow it to lock itself. The managing agent was asked to send a letter to the owners of the unit regarding this letter.

Being no further business to come before the general membership to discuss at this time, the meeting was adjourned at the hour of 8:35 p.m.